19 Nov SoundExchange Payout Biggest Ever for the Company
SoundExchange Pays Out $122.5 Million In Q3 — Its Largest Sum Yet
By Eric Christman
November 14, 2012
SoundExchange continues to grow its payout, hitting $122.5 million in royalty payouts to artists and labels in the third quarter. That figure makes it the largest quarterly payout by the organization since its inception.
In the first quarter of 2012, SoundExchange paid out $108.6 million, which it credited the record quarter to data cleanup and technology overhaul efforts. For the year, the agency has paid out $326.9 million, surpassing the $292 million in royalty payments it made in 2011.
It also brings total payouts since SoundExchange’s inception to about $1.2 billion in master rights performance royalties
for artists and labels. The organization said that it now distributes royalties on behalf of more than 2,000 digital music services.